Meggitt chair to step down

THE CHAIRMAN of Meggitt yesterday said he plans to retire after nearly 10 years in the role, as the engineering giant said trading this year so far was in line with expectations.

Sir Colin Terry told the FTSE 100 firm’s annual shareholder meeting that he would step down after a transitional period once a successor was appointed, hopefully by next year’s annual meeting. Meggitt continues to forecast mid-single-digit revenue growth this year.